SYNPET: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
SYNPET
Largest movements
- Receivables after one year +€6.2m
up €6.2m (+72.3%), from €8.5m to €14.7m
- Receivables within one year -€1.4m
down €1.4m (-91.4%), from €1.5m to €128,709
of which Other amounts receivable: -€1.3m
- Cash -€1.3m
down €1.3m (-97.4%), from €1.4m to €35,218
mainly Receivables after one year (-€6.2m) and Net result for the year (-€2.9m)
- Formation expenses -€341,012
down €341,012 (-25.9%), from €1.3m to €977,542
- Debts after one year +€6.2m
new in 2025: €6.2m
- Profit (loss) carried forward -€2.9m
down €2.9m (-130%), from -€2.3m to -€5.2m
- Gross operating margin -€1.9m
new in 2025: -€1.9m
- Services and other goods -€1.3m
no longer reported in 2025 (was €1.3m)
- Staff costs +€474,614
up €474,614 (+153%), from €309,865 to €784,479
- Financial charges +€132,148
up €132,148 (+1,057%), from €12,497 to €144,645
- Depreciation +€38,801
up €38,801 (+12.8%), from €302,210 to €341,012
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,108,002 | €22,336,182 | +€3.2m | +16.9% |
| Formation expenses | 20 | €1,318,554 | €977,542 | -€341,012 | -25.9% |
| Fixed assets | 21/28 | €6,200,000 | €6,200,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €6,200,000 | €6,200,000 | = | 0.0% |
| Affiliated companies | 280/1 | €6,200,000 | - | -€6.2m | |
| Participating interests | 280 | €6,200,000 | - | -€6.2m | |
| Current assets | 29/58 | €11,589,448 | €15,158,639 | +€3.6m | +30.8% |
| Amounts receivable after more than one year | 29 | €8,546,835 | €14,728,201 | +€6.2m | +72.3% |
| Other amounts receivable | 291 | €8,546,835 | €14,728,201 | +€6.2m | +72.3% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,499,203 | €128,709 | -€1.4m | -91.4% |
| Trade receivables | 40 | €70,165 | - | -€70,165 | |
| Other amounts receivable | 41 | €1,429,038 | €128,709 | -€1.3m | -91.0% |
| Cash at bank and in hand | 54/58 | €1,363,621 | €35,218 | -€1.3m | -97.4% |
| Deferred charges and accrued income | 490/1 | €179,789 | €266,511 | +€86,722 | +48.2% |
| Total equity and liabilities | 10/49 | €19,108,002 | €22,336,182 | +€3.2m | +16.9% |
| Equity | 10/15 | €18,791,331 | €15,843,910 | -€2.9m | -15.7% |
| Contributions | 10/11 | €21,061,500 | €21,061,500 | = | 0.0% |
| Capital | 10 | €21,061,500 | €21,061,500 | = | 0.0% |
| Issued capital | 100 | €36,061,500 | €36,061,500 | = | 0.0% |
| Uncalled capital | 101 | €15,000,000 | €15,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,270,169 | -€5,217,590 | -€2.9m | -130% |
| Amounts payable | 17/49 | €316,671 | €6,492,272 | +€6.2m | +1,950% |
| Amounts payable after more than one year | 17 | - | €6,163,648 | +€6.2m | |
| Financial debts | 170/4 | - | €6,163,648 | +€6.2m | |
| Amounts payable within one year | 42/48 | €316,671 | €328,623 | +€11,952 | +3.8% |
| Trade debts | 44 | €176,935 | €219,054 | +€42,118 | +23.8% |
| Suppliers | 440/4 | €176,935 | €219,054 | +€42,118 | +23.8% |
| Taxes, remuneration and social security | 45 | €139,736 | €109,570 | -€30,166 | -21.6% |
| Taxes | 450/3 | €67,923 | €25,589 | -€42,334 | -62.3% |
| Remuneration and social security | 454/9 | €71,813 | €83,980 | +€12,168 | +16.9% |
| Operating income | 70/76A | €4,650 | - | -€4,650 | |
| Turnover | 70 | - | €6,488 | +€6,488 | |
| Other operating income | 74 | €4,650 | - | -€4,650 | |
| Operating charges | 60/66A | €1,909,184 | - | -€1.9m | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €1,950,156 | +€2.0m | |
| Services and other goods | 61 | €1,297,108 | - | -€1.3m | |
| Remuneration, social security and pensions | 62 | €309,865 | €784,479 | +€474,614 | +153% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €302,210 | €341,012 | +€38,801 | +12.8% |
| Other operating charges | 640/8 | - | €4,282 | +€4,282 | |
| Gross operating margin | 9900 | - | -€1,943,668 | -€1.9m | |
| Operating profit (loss) | 9901 | -€1,904,534 | -€3,073,441 | -€1.2m | -61.4% |
| Financial income | 75/76B | €276,176 | €270,665 | -€5,511 | -2.0% |
| Recurring financial income | 75 | €276,176 | €270,665 | -€5,511 | -2.0% |
| Income from current assets | 751 | €250,003 | - | -€250,003 | |
| Other financial income | 752/9 | €26,173 | - | -€26,173 | |
| Financial charges | 65/66B | €12,497 | €144,645 | +€132,148 | +1,057% |
| Recurring financial charges | 65 | €12,497 | €144,645 | +€132,148 | +1,057% |
| Debt charges | 650 | €0 | - | = | |
| Other financial charges | 652/9 | €12,497 | - | -€12,497 | |
| Profit (loss) for the period before taxes | 9903 | -€1,640,855 | -€2,947,421 | -€1.3m | -79.6% |
| Profit (loss) for the period | 9904 | -€1,640,855 | -€2,947,421 | -€1.3m | -79.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,640,855 | -€2,947,421 | -€1.3m | -79.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.